Daily Yellowstone journal. [volume] (Miles City, Mont.) 1882-1893, 1887-05-28
SILVER PRODUCTION.

ncipiebs DOViue8 Oi tue bafIeu pldlno.
SILVER PRODUCTION.
Report Of the Director Of the Mint.
In his recent report the director OF
the Mint estimates the total produc.
ton of silver for the year 1885 at sl24..
000, 900. OF this amount the United
States produced $5l 900, 900. which ID
considerably less than half the total
product of the world. Mexico and
South America furnish most of the
balance. 1t is further stated that the
production of silver has doubled with
in the past fourteen years. In 1877
the total product was only s62, 2,0O0. 600
and In 1886 this had increased TO 1924.
600, 900.
The silver mines In the United
States were discovered in 1855. and
the production began in this country
that year. with the modest product Of
100000. The next year it increased
to $50, 900, and in 1861 jumped to S..
100000. In only two or three year
since has there been any decline. bul
the product has gone on steadily in'
creasing, till for the last two years II
has been about $5.0O0,OOO. In thu
perioo Of twenty-seven years we have
produced in silver s74s, ,572, ,2sO.
From the discovery Of America
down TO 1875 the total product of sill.
yer In the world amounted to some
thing over six billions, Of which South
America and Mexico had furnished
five-sixths. and Mexico alone more
than half Of that sum. Up to that
time the United States had only pro-
duced about $50, ,0OO, 900.
During that period the total product
Of gold had been about q billion and a
half less than of silver, and Of that
gold the United States had produced
nearly billion, mostly In the last
twenty-five years Of that time. From
ls47 to 1853 our gold product had in
creased from less than 100000 to
$65, ,000. 900. 1t attained Its maximum
In 1853, and has since gradually de-
clined and since 1878 has never exceed
ed $4,000. 900.
During the past forty years We have
produced In this country considerably
more than twice as much gold as sill
yer.
Ifthe director Of the Mint is correct
IN bis estimate of the gold product for
1886, which be puts at $S5.OOO.0OO, 1t
shows q considerable advance. for in
1888 IL was only $3,OOO,OOO.
From the discovery Of America
down to 1875 Australia had crowded
the United States pretty close in the
production Of gold, the figures being
for the United States 1886, l26, ,0l5. and
for Australia $3.50, ,963, 800. Australia
up TO that time had produced NJ silver.
1t is reported that rich silver mines
have recently been discovered In that
country.
On June 80, 1879. the year Of re.
sumption Of specie payment In the
Uuited States. the director Of the Mint
estimated the total amount Of gold
and silver currency in the country q,
$685., ,54I, 1888, divided as follows: Gold,
s2s6, ,4sO, 500; silver, ll2,050.9s5.
From the same authority we have
the estimate on the FIRST day Of Janu'
ary, 1887, at total Of $s7S, ,2OOo. 900, d.
vided as follows: Gold, $64l, 400, ,0o0
silver. 1881, $780, 900.
1t will be observed that during these
seven years the total stock of gold and
silver In the country has much more
than doubled and the relative amounts
Of gold and silver have not changed
greatly. And during these same seven
years the public debt Of the United
States was reduced s7o5, $50, all Of
which was paid In gold.
The points to which We wish TO ci-
rect attention are these: The coinage
of silver in this country has notdriven
out gold. Judging the future by the
psst, we can 70 on coming silver and
paying on our public debt In gold till
the last bond Ia paid, and our stock o.
gold will still continue to increase.
The great increase in the productlor
Of silver n mostly in the United States
This production 10 likely 10 Increase
That OF Mexico and South AmeriA h
not likely TO increase much for many
years 10 come.
The production Of gold 10 much mors
evenly distributed over the world than
that Of silver.
The Andesn and Rocky mountain
chain. In reality one, produces most Of
the worlds product Of silver.